The joint statement issued by the Ministry and the GIA on Thursday, January 26, 2023 mentioned that the Government of Ghana and the Ghana Insurers Association (GIA) have reached an agreement on the participation of insurance companies in the Debt Exchange Program internal (DDEP).

La déclaration rendue publique a annoncé que “le Government, through the Ghana Financial Stability Fund (GFSF) solvency desk, will provide support to insurance companies that are seriously affected by the DDEP. The aim is to protect jobs and the stability of the industry.” According to the document, “the GIA is pleased to reach an agreement with the government that protects its members, but also allows the government to pass the necessary economic reforms in these areas.
difficult times.”

The new agreement includes final improvements to the terms of the program, which include, clarity on the operational framework and access conditions to the Ghana Financial Stability Fund (GFSF), an agreement to pay a 5% coupon for 2023, and a rate of single coupon for each of the twelve (12) new bonds resulting in an effective coupon rate of 9%, and the removal or modification of all the provisions of the Memorandum of Exchange that authorize the Republic to, at its sole discretion, modify the conditions of the exchange.